"The Sonesta ES Suites Sunnyvale, a 138-room hotel, has been bought for $15 million, documents filed on Dec. 18 with the Santa Clara County Recorder's Office show. San Diego-based Kalthia Group Hotels acted through an affiliate to buy the all-suites hotel, at 900 Hamlin Ct. in Sunnyvale, according to the county real estate records. The day before the Sunnyvale transaction, Kalthia Group Hotels bought an all-suites hotel in north San Jose, paying $16 million for a Sonesta ES Suites at 1602 Crane Ct."
"The Kalthia firm bought the Sunnyvale Sonesta ES Suites hotel at a price that equated to about $108,700 a room. Kalthia Group bought the 114-room Sonesta ES Suites hotel in north San Jose at a per-room price of roughly $140,350. Kalthia Group Hotels executives have proposed a conversion of the north San Jose property into housing, a preliminary proposal on file with city planners show."
"Each of the rooms in the all-suites San Jose hotel features a fully equipped kitchen. Some of the suites have two bedrooms. This makes sense as a housing conversion, Alan Reay, president of Atlas Hospitality Group, said earlier this week in discussing the residential plans for the San Jose hotel. Similarly, all of the rooms at the Sonesta lodging hub in Sunnyvale are suites and feature full kitchens that include a stovetop and a full-sized refrigerator and freezer."
Kalthia Group Hotels purchased two Sonesta ES Suites properties in Santa Clara County, paying $15 million for a 138-room Sunnyvale hotel and $16 million for a 114-room north San Jose hotel. The deals were recorded with the county and list Hospitality Properties Trust as the seller. The Sunnyvale purchase equated to about $108,700 per room and the north San Jose sale equated to roughly $140,350 per room. Kalthia has proposed converting the north San Jose property to housing. Both hotels feature all-suite rooms with full kitchens and some two-bedroom suites, which facilitate potential residential conversion.
Read at www.mercurynews.com
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